Commonwealth Numbered Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
A NEW TAX SYSTEM (LUXURY CAR TAX) ACT 1999 - SECT 5.15
The amount of luxury car tax payable - (1)
- The amount of luxury car tax payable
on a * taxable supply of a luxury car is as follows:
- (2)
- However, if luxury car tax has already become payable in respect of the
car, the amount of luxury car tax payable on a * taxable supply of a
luxury car is:
- (a)
- the amount of luxury car tax on the supply (worked out in accordance with
subsection (1)); minus
- (b)
- the sum of all luxury car tax that was payable in respect of any previous
* importation or supply of the car.
The amount of luxury car tax payable on a taxable supply of a luxury car is
zero if the amount in paragraph (a) is less than the amount in paragraph (b).
- (3)
- In determining the luxury car tax that was payable in respect of any
previous * importation or supply of a * car for the purposes of paragraph
(2)(b), take into account * luxury car tax adjustments (if any) other than
luxury car tax adjustments made under Subdivision 15-C (bad debts
adjustments).
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback